Mortgage credit supply in August fell to its lowest level in six year, driven by a reduction in supply from both conventional and government segments t, according to a recent tally by the Mortgage Bankers Association.
The FHA lowered payment history requirements for borrowers with previous forbearance to refinance their loans in order to aid the housing market. The changes are for purchase and rate-term refi loans.
The National Fair Housing Alliance called HUD’s new Preserving Community and Neighborhood Choice rule a “major step backwards in the ongoing fight for fair housing.”
Under the proposal, the CFPB will accept requests from third parties, such as trade associations or law firms, on behalf of unnamed financial entities.
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